Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (59027)	11/8/2002 1:33:18 PM
From: Shack	Read Replies (1) \| Respond to of 209892

But we gapped up over that line and closed above for 4 days (yesterday right on it). I think a close below would be a failure, but I know what you mean. On the weekly it would look just like a probe.

To: AllansAlias who wrote (59027)	11/8/2002 2:06:24 PM
From: Perspective	Read Replies (1) \| Respond to of 209892

I'll chime in and say that it should not surprise us if that trendline is broken. It remains very steep at -42%/year on $COMPQ. This compares to the bull trendline that dominated the 1990s rising at 26%/year. A mirror image of that would be -21%/year. The Nikkei's rise and fall were perfect mirrors of each other in slope, incidentally also 1.26 (+26%) on the rise and 1/1.26 (-21%) on the decline. An effort to reset the bear to a new trendline like that would probably involve a retest of the resistance around 2000 sometime in the next 6-12 months. This is the "cyclical bull" argument. I think this happens, but not off this sentiment backdrop. I think the move down remains unfinished. We still haven't had the kind of purging necessary to set a lasting bottom. Dow stuff - MMM, PG, JNJ, C - has been down like, what, maybe two whole weeks this year? BC

To: AllansAlias who wrote (59027)	11/8/2002 2:22:59 PM
From: The Freep	Respond to of 209892

It's a good thing you stopped in, AA. I've been doing my best to keep this thread on track -- posting great and detailed charts, avoiding wiggles, stating facts and never asking questions. But all I get in return is posts about Friends and the Red Sox. I swear. the freep (noting a red VIX and a high put call with a nearly 2 puts to 1 call ratio on the S+P)